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Fly News Breaks for September 6, 2017
PAY
Sep 6, 2017 | 09:16 EDT
As previously reported, Northcoast downgraded Verifone to Neutral from Buy. Analyst Keith Housum has reduced confidence in the company's ability to grow revenues and increase profitability given the delay in reaching the point of sale market with its new Carbon and Engage platform compared to initial expectations. The analyst said the downgrade is not a call on the quarter, but on the long-term thesis of increasing difficulty for Verifone to return to a satisfactory growth trajectory, combined with losing market share for payment terminals, and increased competition.
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